QUESTION
I have a small business, and my landlord says I have 1152 rentable square feet, but when I mearsure the insides, there is only 1105.7 square feet.
Asked on Jun 01st, 2012 on Business Litigation - California
More details to this question:
There is no "common area" just a parking lot. do they have the right to charge me the size of the building and walls? or is rentable the same as usable space. They arrived at the 1152sf from their blue prints of their builder. It is not they interior Square footage of my store.
1 ANSWER
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The concept of "rentable" space is common in the real estate industry. It is not the same as "usable" space, and tenants (and their attorneys who negotiate leases) are expected to know the difference. The "rentable" space includes your share of usable elements in the building, for which the landlord must pay but for which you receive no benefit. As long as all tenants are being charged on the same basis, there's no harm to you, since the loss is proportionately the same for all.
Answered on Jun 03rd, 2012 at 8:12 AM